Honeywell - Delivering More Than Expected

Purbalee Dutta Purbalee Dutta
Nov 03, 2020 5 min read
Honeywell - Delivering More Than Expected

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Destiny is what the company makes by itself. Honeywell believes themselves to be Β the shapers of the future and their plans can change the entire world. Transforming the way of working and solving business-related problems are the both toughest challenges of the company.

Honeywell, yes you heard it right! It is an American publicly-traded conglomerate company. It has got 4 areas of business. Those are Aerospace, Building technologies, Safety and Productivity Solutions and Performance Materials and Technologies. The company has got a workforce of 110,000 workers. Read the Honeywell success story below to know more!

Honeywell - Company Highlights

Startup Name Honewell
Headquarters Charlotte, NC, US
Sector IT
Founders Mark C. Honeywell
Founded 1906, Washbash, Indiana, US

Honeywell - About
Honeywell - History
Honeywell - Founder And Team
Honeywell - Tagline, Slogan And Logo
Honeywell - Business Model
Honeywell - Revenue Model
Honeywell - Funding and Investors
Honeywell - Growth
Honeywell - Competitors
Honeywell - Future Plans

Honeywell - About

Honeywell was acquired by AlliedSignal in 1999. The company chose the name, Honeywell because of its considerable brand recognition. This company was also a component of the Dow Jones Industrial Average index from 1999 to 2008. It provides various products and services for aircraft and vehicles. The company also offers aircraft engines and service solutions. It also helps the owner of the homes to stay connected. Honeywell is also engaged in manufacturing and developing materials. These all to do things are the parts of various categories of the company.

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Honeywell - History

The company was founded in 1906. It was founded by Mark C. Honeywell. He was the first president of the company. William and his son Harold Swett were the first and second chairman of the company. Thermostat heating control was their first business venture. Also in the1950s, the company developed the Automatic Master Sequence Selector. It was an automatic control system for aeroplanes which reduces the workload of the pilots. It's also into the computing business since the 1960s.

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Honeywell - Founder And Team

Mark C. Honeywell was the founder of the company. He was born in the year 1874 29th December at Wabash, Indiana, United States. He spent his childhood here itself. He took his last breath on 13th September 1964 at Indianapolis, Indiana, United States. He was an American electronics industrialist. He was also the first CEO and President of the company. In his younger age, he had various jobs like he used to work in the bicycle business, citrus and also in his father's Wabash mill. He completed his education from Eastman Business College.

The tagline of the company is, "The Power Of Connected".

The logo -

Honeywell Logo

Honeywell - Business Model

The company has got the following business model -

  1. Key partners -
  • Aircraft manufacturers
  • Suppliers
  • Manufacturers of components and parts
  • Defence sector

2. Β Key activities -

  • Manufacturing
  • Research and development
  • Aerospace
  • Performance of Materials and Advanced Technologies
  • Designing and engineering
  • Automation and Control Systems
  • Quality control of the products
  • Product development

3. Β  Key resources -

  • Facilities and product technology
  • Partnerships
  • Intellectual property
  • Development facilities
  • Production
  • Portfolio development
  • Organic growth
  • Awards and recognitions
  • Strong distribution network

4. Β  Customer Segments -

  • Defence sector
  • Major corporations
  • Private consumers

5. Β  Customer Relationship -

  • Service and support
  • Diversity
  • Automation
  • Knowledge and Expertise
  • Performance-based

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Honeywell - Revenue Model

The company generates revenue by the 3 following segments mentioned below -

It is especially driven through sales.

Aerospace sales, Performance Materials and Technologies sales and Automation and Control Solutions Sales.

  • Aerospace sales - Here revenue is derived from the sale of original equipment.
  • Performance Materials and Technologies sales - Revenue is derived from the division of process solutions. It is the sale of oil products and advanced materials.
  • Automation and Control Solutions Sales - Revenue is derived from energy sales, security and safety products, distribution services and also from building solutions.

Honeywell - Funding and Investors

Honeywell has raised a total amount of $11.4 million in funding.

Date Transaction Name Money Raised
October 27, 2009 Grant $11.4 million

It is funded by US Department of Energy.

Honeywell - Growth

The company achieved margin expansion of more than 140 basis points and share of $2.21 in the 1st quarter of 2020, up to 15% with operating profit growth of 3% and segment property growth of Β 2%. EPS growth was 15%. It generated $0.9 billion of operating cash and 0.8 billion of free cash. This strengthened their balance sheet.

Honeywell - Competitors

The top competitors of the company are Garmin, 3M and Johnson Controls.

  • Garmin is one of the top competitors of Honeywell. It was founded in the year 1989 and is headquartered at Olathe, Kansas. It operates in the Electronics industry. The company generates less revenue than Honeywell.
  • 3M is the top #3 competitor of Honeywell. It was founded in the year 1902 and is headquartered at Saint Paul, Minnesota. This company works in the Retail Distributors industry. 3M also generates less revenue than Honeywell.
  • Johnson Controls is the top competitor of Honeywell. It was founded in the year 1885 and is headquartered at Milwaukee, WI. This company is almost similar to Honeywell. Likewise, it also operates in the Industrial Machinery and Equipment Industry. It has got fewer employees than Honeywell.

Honeywell - Future Plans

The company wants an expansion of the segment profit margin to 50%. The goal of the company is to provide its consumers with a diverse range of technical solutions and industrial products across the automotive, petrochemicals and commercial industries and aerospace.

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